Short Interest in NetSol Technologies, Inc. (NASDAQ:NTWK) Rises By 18.8%

NetSol Technologies, Inc. (NASDAQ:NTWK) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 22,700 shares, a growth of 18.8% from the August 31st total of 19,100 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 21,300 shares, the short-interest ratio is presently 1.1 days.

Institutional Investors Weigh In On NetSol Technologies

An institutional investor recently raised its position in NetSol Technologies stock. Perritt Capital Management Inc. raised its position in shares of NetSol Technologies, Inc. (NASDAQ:NTWK) by 62.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,639 shares of the software maker’s stock after buying an additional 7,900 shares during the period. Perritt Capital Management Inc. owned about 0.18% of NetSol Technologies worth $57,000 at the end of the most recent reporting period. 16.02% of the stock is currently owned by institutional investors.

NetSol Technologies Trading Down 1.4 %

Shares of NASDAQ:NTWK traded down $0.04 during trading on Monday, reaching $2.81. The company had a trading volume of 45,100 shares, compared to its average volume of 25,264. The company has a fifty day moving average of $2.74 and a two-hundred day moving average of $2.70. The stock has a market capitalization of $32.05 million, a P/E ratio of -7.39 and a beta of 1.07. NetSol Technologies has a 12 month low of $1.75 and a 12 month high of $3.10.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of NetSol Technologies in a report on Monday, September 23rd. They issued a “buy” rating on the stock.

About NetSol Technologies

NetSol Technologies, Inc designs, develops, markets, and exports enterprise software solutions to the automobile financing and leasing, banking, and financial services industries worldwide. The company offers NFS Ascent, a suite of financial applications for businesses in the finance and leasing industry.